Collin Plume
๐ค SpeakerAppearances Over Time
Podcast Appearances
If you go back over time, if you go back the last 150 years, gold has been able to keep up with inflation and the cost of living in a way that most other items have not. And that is also the big idea with investing for retirement is you want that same quality of life in retirement that you have while you're working.
If you go back over time, if you go back the last 150 years, gold has been able to keep up with inflation and the cost of living in a way that most other items have not. And that is also the big idea with investing for retirement is you want that same quality of life in retirement that you have while you're working.
That's why you're working so hard is you wanna be able to have the things in retirement. And yes, you may have to downsize your living to afford to live as long as you may live. With that being said, the idea is you want items that are gonna keep up with the cost, the increasing costs of everything that's going up out there.
That's why you're working so hard is you wanna be able to have the things in retirement. And yes, you may have to downsize your living to afford to live as long as you may live. With that being said, the idea is you want items that are gonna keep up with the cost, the increasing costs of everything that's going up out there.
And so that's another reason why a lot of people, if they were hitting very heavy in cash, they've been looking at gold and silver as another way because they need to make better returns. And obviously nobody has a crystal ball of where things will go. But typically during heavy inflationary periods, gold has performed very well.
And so that's another reason why a lot of people, if they were hitting very heavy in cash, they've been looking at gold and silver as another way because they need to make better returns. And obviously nobody has a crystal ball of where things will go. But typically during heavy inflationary periods, gold has performed very well.
You can see the late 70s, early 80s is a perfect example when inflation was in the 14 to 16% range and gold was keeping up with that and outperforming those numbers.
You can see the late 70s, early 80s is a perfect example when inflation was in the 14 to 16% range and gold was keeping up with that and outperforming those numbers.
That's another reason that a lot of people are diversifying. And that's a big part of my philosophy, Vince, is keeping your options open in terms of investment and also being willing to learn about different investments. That's the thing that will really separate people today and for the next 20, 30 years is not being stuck on some of the old ideas.
That's another reason that a lot of people are diversifying. And that's a big part of my philosophy, Vince, is keeping your options open in terms of investment and also being willing to learn about different investments. That's the thing that will really separate people today and for the next 20, 30 years is not being stuck on some of the old ideas.
If you look at the S&P 500, if you go back 20, 30, 40 years ago, many of those companies are no longer in business. So the idea that you should just stay into one stock or stay into one area in terms of investment forever is really not a smart strategy. The idea is being diversified in different investments so that you're protected.
If you look at the S&P 500, if you go back 20, 30, 40 years ago, many of those companies are no longer in business. So the idea that you should just stay into one stock or stay into one area in terms of investment forever is really not a smart strategy. The idea is being diversified in different investments so that you're protected.
And I'll tell you, a lot of my clients that I had when I was in commercial real estate Many of them bought gold and silver from me. And I had conversations with them over the last few years that said that they were so happy that they diversified out of real estate because real estate has been so difficult over the last few years. And I don't think it's gonna get
And I'll tell you, a lot of my clients that I had when I was in commercial real estate Many of them bought gold and silver from me. And I had conversations with them over the last few years that said that they were so happy that they diversified out of real estate because real estate has been so difficult over the last few years. And I don't think it's gonna get
any better i still think real estate is going to have significant issues and so if you have all your funds and just real estate just rental properties just whatever it is in real estate and you go through a down period and we've been in a two and a half year down period in real estate then you could really jeopardize that comfortable retirement if you don't have other assets to pull from
any better i still think real estate is going to have significant issues and so if you have all your funds and just real estate just rental properties just whatever it is in real estate and you go through a down period and we've been in a two and a half year down period in real estate then you could really jeopardize that comfortable retirement if you don't have other assets to pull from
And so that's a big part of my philosophy is I do own real estate. I do own lots of gold and silver. I do own some stocks. It's important to be diversified. And I've even diversified into buying additional businesses because I do want to be more diversified. And I think that owning good quality businesses and building them up is another way to have an income stream.
And so that's a big part of my philosophy is I do own real estate. I do own lots of gold and silver. I do own some stocks. It's important to be diversified. And I've even diversified into buying additional businesses because I do want to be more diversified. And I think that owning good quality businesses and building them up is another way to have an income stream.
And so I do exactly what I tell people to do and I am diversified. And that makes me feel more comfortable is not having all my eggs in one basket. And I think that's the thing that I would say to people is the most important is be willing to learn about a new investment or a new strategy every year, whether you decide to do it or not is up to you. But I think being willing to learn about it
And so I do exactly what I tell people to do and I am diversified. And that makes me feel more comfortable is not having all my eggs in one basket. And I think that's the thing that I would say to people is the most important is be willing to learn about a new investment or a new strategy every year, whether you decide to do it or not is up to you. But I think being willing to learn about it